General Mills Profit Climbs on Higher Prices

General Mills Inc., reporting a 51% jump in fiscal fourth-quarter earnings, said consumers will continue to see high prices in the grocery aisle as commodity costs soar.

The packaged-food company said it expects costs for ingredients, energy and other inputs to grow by 10% to 11% in the current fiscal year, the highest level it's seen in recent years. Those headwinds will be particularly strong in the current quarter, helping to...